Русский
The Russian President Vladimir Putin met with Vietnamese Foreign Minister Le Hoai Trung in Moscow on Tuesday (February 24), stating that “Our bilateral relations have been developing positively, and trade has been growing. We have substantive, candid dialogue on every issue, including political dimensions.” Vietnam has a free trade agreement with Russia via the Eurasian Economic Union and is a partner nation to the BRICS group.
Putin congratulated Le on the Lunar New Year, traditionally celebrated in Vietnam (Tet), and said that Moscow was happy to see the Vietnamese foreign minister.
Bilateral trade between Russia and Vietnam and Russia saw mixed results last year, with total trade turnover experiencing a slight contraction, yet this remains a key economic partnership with significant potential. While early 2025 data showed decreases, reports for the full year suggest trade reached about US$4.59 billion.
Vietnamese exports to Russia were estimated to exceed US$2.2 billion in 2025, a decrease of 3.2%. Russian exports to Vietnam contracted by about 0.4%.
Russia-Vietnam transit trade should also increase as Russia has begun exports to Cambodia via Vietnamese ports.
Vietnam exports seafood, coffee, textiles, and electronics to Russia, while importing fertilizers, coal, and machinery. Despite short-term fluctuations, Russia remains a key trading partner, and both sides continue to work toward long-term growth in agricultural and industrial sectors. Both countries have set a US$10 billion bilateral trade target for 2030.
